Revolt TV will reportedly focus on music, live content and social media with an emphasis on the urban market.
As Tambay has mentioned, it does sound like more of the same. Though it takes time and a healthy bit of funding to get a channel established, so it'll be interesting to see if Diddy plans to incorporate anything new (i.e. *scripted content*) into the programming once it's up and running. Baby steps.
Below, see Combs celebrate finalizing the deal: